A limited liability company allows you to create a small business that protects your personal assets from creditor claims. This makes an LLC a popular company structure. Still, your business may not function to your benefit if you do not compose a comprehensive...
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How can you handle disagreements with your business partner?
Disagreements with a business partner are a natural part of running a company. When you talk to another individual who brings unique perspectives and ideas to the table, conflicts can arise. However, how you handle these disagreements can significantly impact the...
4 types of disputes businesses may have with former employees
Some businesses have disputes with former employees. Various factors can cause them and lead to bad outcomes. Understanding these common issues can help employers better deal with potential conflicts. 1. Termination disputes If termination occurs, disagreements may...
Drafting a succession plan for your family business
Drafting a succession plan for your family business helps ensure its long-term viability and continuity across generations. A succession plan outlines the process for transferring ownership and management responsibilities to the next generation of leaders within the...
What you need to know about naming a beneficiary for your LLC
When it comes to managing your limited liability company, there are several aspects that are easy to overlook. Among these, the act of naming a beneficiary for the LLC is particularly important. Designating a beneficiary who will inherit your share of ownership over...
What does it mean to reorganize a business in bankruptcy?
If your business is facing tough financial times due to mounting debt and a lack of cash flow, you may wonder what you can do to pull your enterprise back from the brink. Companies in financial turmoil might turn to reorganization through the Chapter 11 bankruptcy...
Common mistakes new business owners can avoid
Launching a new business for the first time brings a flurry of decisions and new situations. In the process, many new business owners make mistakes that can hinder their success. Understanding some of the most common errors that business owners make might help you...
How buying or leasing equipment can benefit a business
If you own a small business, figuring out how to successfully expand your operation is likely one of your top concerns. While obtaining equipment, inventory or assets can help your company, you should also understand how to best go about your acquisition. Buying your...
How can I protect my business’s intellectual property?
Intellectual property plays a substantial role in American business. In 2019, the U.S. Patent and Trademark Office reported that 44% of employment depended on IP-intensive industries. Intellectual property encompasses your creative ideas, inventions and brand identity...
FAQs about starting a business
Indiana, with its business-friendly environment and vibrant economy, has become a hotbed for budding entrepreneurs. In fact, the U.S. Census Bureau reports that there are over 430,000 businesses in Indiana. Whether you're drawn by its strategic location in the...